Lockheed Martin’s revenue contracted in the third quarter as the aerospace and defense giant grappled with delayed contractual authorization and funding from the Pentagon for the F-35 Lightning II fighter aircraft. Though Lockheed managed earnings of per share of $6.80, beating Wall Street’s expectations, sales declined 1% year-over-year to $17.1 billion. Excerpts from my story for Aviation Week Network below: In an Oct. 22 earnings call, Lockheed CEO Jim Taiclet said the company delivered 48 F-35s in the September quarter and expects to deliver 90 to 110 overall this year. But delays in contractual authorization and funding for F-35 Lots 18 to 19 took a toll on Lockheed’s earnings. In a news release, the company said it could not “recognize revenue and profit on approximately $400 million of costs” incurred from July to September. Lockheed said it was also unable to invoice and receive cash of about $450 million through the third quarter. Those challenges aside, F-35 demand is strong. The world’s most advanced fighter jet “has become an essential component of the collective security of the U.S. and our global allies,” Taiclet said. The company predicts that by the 2030s, more than 600 F-35s will be in operation across more than 10 European countries. In July, Greece announced that it would acquire 20 F-35s, making it the 19th country to fly the aircraft. Looking ahead, Lockheed is likely to step up work on solid rocket motors, an area where it has continued to look for opportunity despite being blocked from acquiring Aerojet Rocketdyne by the Biden administration, which was concerned the deal would reduce competition in the defense sector. Lockheed dropped the bid in February 2022. L3Harris then announced plans to buy Aerojet for $4.7 billion in December 2022 and successfully completed the acquisition in July 2023. #lockheedmartin #f35 #aircraft #aerospace #defense #military #nationalsecurity https://lnkd.in/epSRquwZ
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The Finnish government has granted approval for the defense conglomerate Patria to construct an assembly plant for F-35A Lightning II programme. Patria will produce F-35 components and assemble engines for F-35 fighters as a local industry partner. This move is part of a broader contract signed with Lockheed Martin in February 2022, under which Finland agreed to purchase 65 F-35A Block 4 aircraft for a total of USD 9.6 billion USD. The agreement includes a first-tier industrial component that requires the Finnish government to lease land for the new facility, located near the city of Nokia. Construction is set to begin in the latter half of this year, with the complex also housing a service center for Pratt & Whitney F135 engines, ensuring support throughout the aircraft's operational lifespan. The plant is expected to start assembling the first batch of F-35As by 2030. Read more here: https://lnkd.in/drzm7up3 #Finland #HX #F35 #fighter #aircraft #LockheedMartin #Patria #defence #aerospace #military #armedforces #industry
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In the early 1980s, the Dassault Mirage 4000, a twin-engine delta-wing fighter prototype, faced a series of setbacks that ultimately led to the cancellation of the program. Despite its advanced design and capabilities, the Mirage 4000 failed to secure any major orders, leading to its demise. The Mirage 4000 was developed by Dassault as a larger, more capable successor to the successful Mirage 2000 fighter. With its twin engines, the Mirage 4000 boasted impressive performance, including a thrust-to-weight ratio exceeding 1.1, and could carry a substantial weapons load of up to eight air-to-air missiles. The aircraft's composite construction also reduced its overall weight while maintaining structural integrity. With no buyers on the horizon, Dassault was forced to cancel the Mirage 4000 program in the early 1980s. The sole prototype completed 366 flights before making its final flight on January 8, 1988. Despite its cancellation, the Mirage 4000 left a lasting impact on French aviation. Its advanced design and technologies were later incorporated into the development of the Dassault Rafale fighter. #military #defense #defence #aerospace #aviation #aircraft #aircrafts #airplane #airplanes #aviationlovers #militaryaviation #militaryaircraft #fighterjet #engineering #technology #militarytechnology #defensetechnology #defenseinnovation #defenseindustry #airforce #pilots
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Why is Lockheed Martin flying high right now? Well, they had a cracking Q2, all things considered. And it may also have something to do with the resumption of deliveries of the world's most advanced fighter aircraft after a lengthy pause. Excerpts from my story for Aviation Week Network below: Lockheed Martin not only beat Wall Street’s profit and revenue expectations in the second quarter, but also resumed delivery of F-35 Lightning II fighter aircraft vexed by problems with its Technology Refresh 3 (TR-3) upgrade. From July 2023 until the middle of this month, the Pentagon had refused delivery of the world’s most advanced combat aircraft because of unstable TR-3 software and delayed production of important hardware for the upgrade. Deliveries finally resumed on July 19 as the Department of Defense decided not to wait any longer for the aircraft, settling for an interim version of the TR-3 upgrade that it will use until the full version is ready. In an earnings call, Lockheed CEO Jim Taiclet says, “The TR-3 upgrade and further Block 4 enhancements represent a critical evolution in capability and their full development remains a top priority for us.” TR-3, Block 4 and additional software updates for the F-35 will ensure that the fighter jet “remains an effective deterrent to aggression and the cornerstone of joint all-domain operations now and decades into the future.” Taiclet says that Lockheed continues to produce the F-35 at a rate of 156 aircraft per year and expects to deliver 75 to 110 of the fighter jets in the second half of 2024. Despite some uncertainty around the precise number of F-35s that will be delivered this year, investors have reason to be pleased with Lockheed’s second-quarter performance. Earnings per share (EPS) of $7.11 well exceeded the FactSet consensus estimate of $6.46 a share, while revenue of $18.1 billion beat Wall Street’s expectation of $17.05 billion. #lockheedmartin #aerospace #defense #fighterjet #aviation #aircraft #manufacturing #military #nationalsecurity #f35 https://lnkd.in/ezs_eYcU
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BOEING IN A NUTSHELL Boeing is one of the world's largest aerospace and defense companies, headquartered in the United States. Here are some key points about Boeing: 1. **History**: Founded in 1916 by William Boeing as Pacific Aero Products Co., it became Boeing Airplane Company in 1917. It has played a significant role in both commercial and military aviation. 2. **Aircraft Production**: Boeing is famous for its commercial aircraft, including the popular Boeing 737 series, 747, 777, and 787 Dreamliner. The 737 is the world's best-selling commercial airliner. 3. **Aerospace and Defense**: Besides commercial planes, Boeing supplies aerospace and defense systems, satellites, missiles, missile defense systems, and military aircraft like the F/A-18 Super Hornet and KC-46 Pegasus. 4. **Technological Innovation**: Boeing is known for its advancements in aviation technology, including composite materials to reduce aircraft weight and improve fuel efficiency. 5. **Economic Impact**: Boeing is a major employer with a vast network of global suppliers, contributing significantly to economies where it operates. 6. **Recent Challenges**: In recent years, Boeing has faced challenges such as production delays with the 787 Dreamliner and safety issues with the 737 MAX, which have had significant impacts on the company. 7. **Sustainability**: Like many aerospace companies, Boeing is focused on sustainability, developing technologies to reduce emissions and environmental impact from its products and operations. In summary, Boeing is a leading player in aerospace and defense, with a rich history of innovation and production of iconic aircraft that have shaped modern aviation.
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The MTU hybrid propulsion concept is transforming tactical possibilities for military vehicles. This innovation is set to revolutionize the defense industry, offering new avenues for propulsion in combat vehicles. #defense #defencetechnology #defenseindustry #propulsion #combatvehicles #military #defence
ROLLS-ROYCE PRESENTS NEW MTU PROPULSION CONCEPTS FOR MILITARY VEHICLES OF THE FUTURE
aero-defence.tech
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The Red Baron was a highly modified Lockheed F-104 Starfighter that set a FAI Class C-1 Group III 3 km speed record of 1,590.45 kilometers per hour in 1977, a record that still stands today. It was assembled by Darryl Greenamyer and sponsored by Ed Browning and the Red Baron Flying Service of Idaho Falls, Idaho13.The aircraft was a remarkable achievement of engineering, constructed from various salvaged F-104 parts collected over 13 years. Powered by a General Electric J79-GE-10 engine, the Red Baron was significantly lighter than standard Starfighters, with an empty weight of just 11,500 pounds. Its exceptional performance was a proof to Greenamyer's meticulous design and engineering skills, ultimately making it the world's fastest warbird of its time #military #defense #defence #aerospace #aviation #aircraft #aircrafts #airplane #airplanes #aviationlovers #militaryaviation #militaryaircraft #fighterjet #engineering #technology #militarytechnology #defensetechnology #defenseinnovation #defenseindustry #airforce #pilots
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Interesting read from FlightGlobal on Bell's implementation of Modular Open Systems Approach (MOSA) into development of Future Long-Range Assault Aircraft (FLRAA). Rotorcraft manufacturer Bell Flight continues to progress development work on the US Army’s next-generation tiltrotor, with delivery of the first prototype still expected in 2026. Still known only as the #FLRAA, the new craft aims to provide drastic improvements in speed and range versus the army’s current troop carrier. The US Army’s commitment to MOSA will provide commanders with faster fielding of innovative, threat-based capabilities with commonality across mission systems. Army Futures Command I Army Futures Command Team I PEO Aviation I U.S. Army Aviation and Missile Command I U.S. Army DEVCOM Aviation & Missile Center I U.S. Army Aviation Center of Excellence
Bell focused on future upgrades as FLRAA advances toward delivery of first prototype
flightglobal.com
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A breathtaking view of an F-22 Raptor executing a high-performance turn with afterburners engaged. The Pratt & Whitney F119 engine powering the F-22 is a marvel of engineering, delivering 22% more thrust with 40% fewer parts compared to its F100 predecessor. This remarkable engine enables the Raptor to achieve supercruise speeds of up to Mach 1.8 without using afterburners, a capability that sets it apart from most fighter aircraft. #military #defense #defence #aerospace #aviation #aircraft #aircrafts #airplane #airplanes #aviationlovers #militaryaviation #militaryaircraft #fighterjet #engineering #technology #militarytechnology #defensetechnology #defenseinnovation #defenseindustry #airforce #pilots #F22
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The Balzac V and Mirage III V were two experimental aircraft designed to validate the architecture of future vertical take-off and landing (VTOL) fighter aircraft. The Mirage III V remains the fastest VTOL aircraft in the world and the only one to have reached Mach 2. The program was cancelled in 1966. The Mirage III V, a VTOL derivative of the Dassault Mirage III, featured eight small vertical lift jets straddling the main engine. These lift jets were used for vertical takeoffs and landings but remained inactive during horizontal flight. In June 1966, the second prototype, equipped with a TF306 turbofan engine for forward thrust, conducted its first flight and later achieved Mach 2.04 in level flight. Despite its groundbreaking speed, the Mirage III V was never able to take off vertically and successfully attain supersonic flight during the same mission1. The loss of the second prototype in November 1966 effectively ended the program, halting the development of an operational Mach 2 vertical take-off fighter for decades. #military #defense #defence #aerospace #aviation #aircraft #aircrafts #airplane #airplanes #aviationlovers #militaryaviation #militaryaircraft #fighterjet #engineering #technology #militarytechnology #defensetechnology #defenseinnovation #defenseindustry #airforce #pilots #France #Mirage
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Did you know that both the front and aft crew stations of the new F-15EX have undergone a significant redesign? These stations now boast expansive 19x11 inch high-definition displays, offering unparalleled adaptability and synchronization with the Heads-Up Display (HUD). Imagine a state-of-the-art, jumbo-sized iPad, but without the distraction of iTunes. The image provided is a mock-up of the F-15EX's cutting-edge cockpit, showcasing the seamless integration of advanced technology for enhanced operational capabilities. #military #defense #defence #aerospace #aviation #aircraft #aircrafts #airplane #airplanes #aviationlovers #militaryaviation #militaryaircraft #fighterjet #engineering #technology #militarytechnology #defensetechnology #defenseinnovation #defenseindustry
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